On the recordFebruary 4, 2015
I thank the gentleman, and I appreciate my colleague from Virginia. I appreciate his tenacity and good work on these issues and on the Committee on Oversight and Government Reform. But I do have to suggest that if the economy is struggling, Federal regulators should be extra concerned about imposing undue and unnecessary costs on to the American public and the private sector job creators. H.R. 50 helps ensure that regulations that impose unfunded mandates on State, local, and tribal governments and the private sector are fully analyzed and considered. Keep in mind, we are focused here on unfunded mandates. This amendment would repeal this helpful legislation if the GDP rate grows at a rate of less than 5 percent. To me, this is counterproductive. GDP is a deliberately broad measure of economic growth. The GDP does not reflect the impact a regulatory mandate might have on a State or local government or a portion of the private sector, nor does it reflect the impact of regulations as a whole. Ultimately, GDP growth is not a substitute for a sensible regulatory analysis and process. I would argue that, regardless of GDP growth or reduction, we need to allow, particularly these local governments, these tribal governments, these private individuals--it is the little guy that has this unfunded mandate thrust upon them that we have to review. So repealing H.R.…
